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Home / Features / The highest- and lowest-priced single-family home sales from March 12 to March 18

The highest- and lowest-priced single-family home sales from March 12 to March 18

The highest- and lowest-priced single-family home sales from March 12 to March 18

HIGHEST

Mission Accomplished

21548 Lake Point Lane, Cornelius

Sold price: $1.17 million
Square feet: 5,
072

Selling this home built in 2008 in the Norman Shores development was a lot easier because the previous owners were meticulous about keeping it new-looking, listing agent Reed Jackson, of Cornelius-based Ivester Jackson Properties, said.

“It wasn’t just like-new. It was brand-spanking new,” Jackson said. “We took over the listing on May 1 of last year, and so it had almost 400 days on market. But right at the end there, after we moved into 2012, it started getting a lot more attention.”

Jackson said the home had a nearly spotless, updated interior.

“It had high ceilings on the main floor, really updated wood trims, stainless steel appliances and granite countertops in the kitchen and hardwood floors throughout the house,” he said. “It is just hard to find a home like this, particularly in Cornelius, since the area was built out about 15 or 20 years ago.”

But buyers were concerned about some aspects of the home – in particular, the floor plan – which is probably part of the reason it sat on the market for so long.

It has two downstairs bedrooms, which became an issue for some potential buyers with young children, Jackson said.

“Several people were ready to buy and it would have sold before now but for that floor plan,” he said.

He said the hefty price, though, was not an issue for the house.

“Houses in this range – $1 million or $1.5 million – are selling well around Cornelius,” he said. “I have one under contract in the area in the mid-$900,000 range, and the waterfront range, to me, is from $700,000 to $1.3 million.

“That waterfront range is very hot right now. People see good deals and good financing and they are snapping them up. A few weeks ago we closed on another Cornelius house at $1.05 million.”

John Rhodes, of Cornelius-based Southern Homes of the Carolinas, was the selling agent.

LOWEST

Mission Accomplished

252 Malvern Drive, Concord

Sold price: $12,500
Square footage: 700

When Bob Shlosser, of Charlotte-based Charlotte Home Advisors, became the selling agent for this two-bedroom, one-bath home in Concord he could tell he had his work cut out for him.

“The home needs a lot of work,” he said. “It has some pest damage, some water damage, needs electrical work and needs plumbing work. The previous owner was in the middle of a renovation and it didn’t get finished and so now it needs even more work. But the overall structure seemed to be sound.”

The buyer, Brandon Watson, of Charlotte-based Suddreth Group, is also an agent.

“This was one of three homes I bought to be an investment last week,” Watson said. “I bought three homes for a total of about $29,000, and I plan on renting them out. I looked at my stocks and they were doing nothing, so I figured I could make some money from people paying rent.”

Watson said he plans to fix up all three homes in the next few months.

“This was really a steal in my mind because it is full-brick and is on a nice corner lot,” Watson said. “It also has new work in the kitchen, so when we’re done someone will be happy to rent this home, and rentals are doing well right now.”

Shlosser has been selling real estate in the Charlotte area since 1979. He said today’s market is a different world.

“I never thought I’d sell a home for this amount,” Shlosser said. “And I never thought I’d see interest rates like this on loans, either. I remember selling homes when the interest rate was closer to 16 percent and people would do a second mortgage or whatever they had to do to make it work.”

Shlosser said these days he focuses mainly on real estate-owned properties for banks. The home at 252 Malvern Drive was an REO property, he said. For Shlosser, selling REO homes is just the next evolution of his business.

“I’m seeing people I sold them their home 30 years ago and now they are moving into a retirement home or nursing home and I’m selling their house again,” he said. “And then I’m selling homes to their great-grandchildren and nieces and nephews.”

Shlosser said he has probably sold five homes so far in 2012 that have all been priced under $30,000.

A look at the highest-priced sales in other Charlotte-area counties:

Anson County

296 Riggs Road, Wadesboro

Sold price: $151,900

Square feet: 2,038

Alexander County

234 Third Ave., Taylorsville

Sold price:  $110,000

Square feet: 1,324

Cabarrus County

711 Channing Circle, Concord

Sold price:  $413,000

Square feet: 4,850

Gaston County

4103 Belle Meade Circle, Belmont

Sold price:  $269,000

Square feet: 2,917

Iredell County

135 Wellfleet Lane, Mooresville

Sold price:  $1.1 million

Square feet: 3,800

Lincoln County

7875 Buena Vista Drive, Denver

Sold price:  $416,000

Square feet: 3,696

Mecklenburg County

528 Meadowbrook Road, Charlotte

Sold price:  $892,000

Square feet: 5,375

Montgomery County

2445 Love Joy Road, Troy

Sold price:  $232,000

Square feet: 3,998

Stanly County

327 Park Road, Albemarle

Sold price:  $107,000

Square feet: 1,316

Union County

1501 Churchill Downs Drive, Waxhaw

Square feet: $550,000

Square feet: 5,026

Home sales data and photos are copyright 2012 Carolina Multiple Listing Services Inc.

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